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Fuel supplies: some operators in trouble
Page 36
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• Transport operators who have been playing the market to get fuel supplies at the cheapest price may find themselves in difficulties, an Esso Petroleum spokesman told CM on Tuesday.
The statement came after reports, from Northern England in particular, that commercial vehicle operators were in some cases unable to get diesel fuel from a number of independent oil companies; though CM inquiries revealed no problems among those obtaining dery from the major oil companies. (The independent suppliers obtain their bulk fuel, in the main, from the refineries or storage tanks of the major oil companies.) Esso said on Tuesday that it was taking steps to safeguard the interests of regular customers with which it had contracts, until the problems posed by the actions of Col Gadafy in Libya in recent days had been resolved.
Currently supplies of fuel are adequate but the "buy back" price from nationalized oil companies in Libya could be increased from $2 to $4 a barrel if Col Gadafy has his way. If the oil companies say "no" to the Colonel and he cuts off supplies, there would be a 10 per cent deficiency in the UK, and just how the cut would be accommodated is problematical. All the other oil-producing countries might also tear up their contacts. The next four to six weeks may be critical, say oil company men.
A spokesman of the Shell Company told CM that he did not foresee any major difficulty in maintaining supplies to customers with contracts. And according to Petrofina there is now no product shortage, but it may be necessary to "review the price of fuel charged to non-contract customers to maintain a viable return".
In an official statement on fuel supplies issued this week Conoco stated that UK fuel supplies were currently adequate. Provided that normal relationships were maintained between producing governments and the oil companies, they did not regard fuel rationing as likely in the foreseeable future. World prices for petroleum products had risen sharply, but although UK prices would undoubtedly. reflect these changes, the extent and timing of the increases would require the approval of the Price Commission.